Bulletin n. 1/2008
May 2008
CONTENTS
  • Section A) The theory and practise of the federal states and multi-level systems of government
  • Section B) Global governance and international organizations
  • Section C) Regional integration processes
  • Section D) Federalism as a political idea
    • KIRSTEN WANDSCHNEIDER
    The Stability of the Interwar Gold Exchange Standard: Did Politics Matter?
    in Journal of Economic History (The) , Volume 68 - Issue 01 ,  2008 ,  151-181
    Economic historians have devoted enormous attention to the collapse of the interwar gold standard. This article proposes a discrete time duration model (using a panel data set of 24 countries for 1928–1936) to analyze how economic and political indicators affected a country’s term on the gold standard. High per capita income, international creditor status, and prior hyperinflation increased the probability of continuation. In contrast, democratic regimes left early. Unemployment, sterling group membership, higher inflation, and the experience of banking crises reduced the time a country remained on the gold standard. This study also predicts sample countries’ survival probabilities.
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